It is commonly referred to as an assignment deed and is used to transfer ownership, right and title of an existing property to another party. In this situation, the owner transfers to the transferee not only the ownership of the property but also all benefits connected to it. Even if it is not necessary for the transfer deed to be registered, it should be signed in front of two witnesses.

It also contains the names, signatures, and other identifying information of the parties to the transfer. The transfer deed is a crucial document that establishes the new owner’s ownership rights and serves as proof of the ownership change. It is frequently necessary in order to register the ownership transfer with the proper government agency.